Bitcoin Cash (BCH) has recovered from the intraday low $280.90 and recovered above $285 by the time of writing. The fifth digital coin with the current market capitalization of $5.2 billion is still down nearly 2% on a day-to-day basis despite the upside momentum.<\/p>\n
On the intraday charts, BCH\/USD bumped into a local resistance created by the middle line of the 1-hour Bollinger Band at $286.00. A sustainable move above this area will open up the way to the next barrier created by a 50-hour SMA at $288.00. Once it is out of the way, the upside is likely to gain traction with the next focus on psychological $290.00 and the upper line of the 4-hour Bollinger Band at $293.30. The ultimate resistance os created by psychological $300.00.<\/p>\n<\/p>\n
On the downside, if $280.00 gives way, the sell-off may be extended towards 200-day SMA at $273.00. This barrier served as a strong resistance for the best part of the year, so no it may provide strong support and trigger the next bullish wave. a sustainable move below this area will negate the bullish forecast and bring more bears to the market.<\/p>\n<\/p>\n
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Bitcoin Cash Price Analysis: BCH\/USD switches to the recovery mode, jumps above $286.00 - FXStreet<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin Cash (BCH) has recovered from the intraday low $280.90 and recovered above $285 by the time of writing. The fifth digital coin with the current market capitalization of $5.2 billion is still down nearly 2% on a day-to-day basis despite the upside momentum. On the intraday charts, BCH\/USD bumped into a local resistance created by the middle line of the 1-hour Bollinger Band at $286.00. Continue reading